Renalytix raises ~$12M via two-tranche equity placing at £0.20/share

Renalytix plc

First tranche of 19,986,031 shares closes March 14, 2024, raising ~$5M gross.
Second tranche (26,815,841 shares) conditional on shareholder approval, raising ~$7M.
Net proceeds extend cash runway into Q4 2024 from current runway ending April 2024.
Related parties Christopher Mills and Mount Sinai subscribed for 4M and 9.36M shares respectively.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Renalytix plc entered into Placing Agreement with Stifel Nicolaus Europe Limited valued at up to an aggregate of 46,801,872 ordinary shares (effective 2024-03-12).

Action: entry
Agreement: equity purchase
Counterparty: Stifel Nicolaus Europe Limited
Value: up to an aggregate of 46,801,872 ordinary shares
Effective: 2024-03-12

Exact text from the filing

On March 12, 2024, Renalytix plc (the “ Company ”) entered into a Placing Agreement (the “ Placing Agreement ”) with Stifel Nicolaus Europe Limited (the “ Bookrunner ” or “ Stifel ”), pursuant to which the Company agreed to allot and issue new ordinary shares, nominal value £0.0025 per ordinary share (the “ Placing Shares ”) to certain investors (the “ Placees ”) in an unregistered offering (the “ Private Placement ”), up to an aggregate of 46,801,872 ordinary shares.

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284 material agreements filed in the last 30 days. Browse all material agreements →

Renalytix plc filing history →

Source: SEC EDGAR

accession 0000950170-24-030496

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